India Tyre Market Share, Size, Trends, Industry Outlook, Analysis and Forecast 2023-2028

IMARC Group, a leading market research company, has recently releases report titled “India Tyre Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The study provides a detailed analysis of the industry, including the India tyre market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the India tyre market?

The India tyre market size reached 188.9 Million Units in 2022. Looking forward, IMARC Group expects the market to reach 225.6 Million Units by 2028, exhibiting a growth rate (CAGR) of 3.1% during 2023-2028.

What are the growth prospects and trends in the India Tyre industry?

The rising utilization of passenger, luxury, and electric vehicles (EVs), on account of the inflating urbanization levels and the expanding expenditure capacities of individuals, is among the key factors augmenting the India tyre market. Moreover, the increasing focus on driver safety and the growing number of fatal road accidents are catalyzing the demand for premium quality automotive components that have a longer operational life, enhanced stability and reliability, high puncture resistance, etc., which is acting as another significant growth-inducing factor. Besides this, the development of eco-friendly, lightweight, and airless three-dimensional (3D) printed tyres by key market players is bolstering the market growth. Furthermore, they save a considerable amount of energy required to manufacture new ones, thereby propelling the market growth across the country. Apart from this, extensive logistics and transportation activities to deliver packages on time are anticipated to fuel the India tyre market over the forecasted period.

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What is Tyre?

A tyre represents a circular and ring-shaped automotive component that contains the wheel rim and is filled with compressed air. It is manufactured by using natural or synthetic rubber, wire, silica, carbon black, steel, and other compounds. Tyres also increase the performance of the vehicle, improve mileage and passenger safety, reduce wear and tear, etc. Presently, they are commonly available in numerous sizes and variants depending on the type of automobile. Tires are generally designed to transmit traction, support vehicle load, minimize vibrations, create torque and braking forces to the road surface, absorb road shocks and maintain, change the direction of travel smoothly, etc.

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India Tyre Market 2023-2028 Competitive Analysis and Segmentation:

Competitive Landscape with Key Players:

• MRF Limited
• CEAT Limited
• JK Tyre & Industries Ltd.
• Apollo Tyres Ltd.

Key Market Segmentation:

The report has segmented the India tyre market on the basis of vehicle type, OEM and replacement segment, domestic production and imports, radial and bias tyres, tube and tubeless tyres, tyre size, price segment and region.

Breakup by Vehicle Type:

• Two Wheelers
• Three Wheelers
• Passenger Cars
• Light Commercial Vehicles
• Medium and Heavy Commercial Vehicles
• Off the Road

Breakup by OEM and Replacement Segment:

• OEM Tyres
• Replacement Tyres

Breakup by Domestic Production and Imports:

• Domestic Production
• Imports

Breakup by Radial and Bias Tyres:

• Bias Tyres
• Radial Tyres

Breakup by Tube and Tubeless Tyres:

• Tube Tyres
• Tubeless Tyres

Breakup by Tyre Size:

• Small
• Medium
• Large

Breakup by Price Segment:

• Low
• Medium
• High

Breakup by Region:

• North India
• East India
• West and Central India
• South India

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If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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